Mortgage rates
Get the mortgage you need at a rate you're comfortable with. Get pre-approved on AccèsD if you're a member to lock in your rate and see how much you can borrow.
Not a member? Schedule a call with the mortgage financing team. to make an appointment for pre-approval.
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Find a mortgage and interest rate that work for you
Interest rates
See today's rates and their key features and learn more about mortgage basics as you get ready to buy a property. A mortgage advisor can help you make the best choice.
Special mortgage rates
4-year closed fixed-rate mortgage2
4.69%
This rate stays the same for 4 years.
5-year closed fixed-rate mortgage2
4.69%
This rate stays the same for 5 years.
5-year closed reduced variable rate mortgage2
4.95%
This rate varies with our prime rate
Fixed-rate mortgages
Fixed rates stay the same until the end of the term and protect you from fluctuations in our prime rate. This option might work for you if you have a low tolerance for risk and you want stability.
Closed fixed-rate mortgage
Interest rate depends on term
| Term | Interest rate |
|---|---|
| 6 months | 7.99% |
| 1 year | 6.99% |
| 2 years | 6.69% |
| 3 years | 6.39% |
| 4 years | 6.29% |
| 4 years (special rate) | 4.69% |
| 5 years | 6.39% |
| 5 years (special rate) | 4.69% |
| 6 years | 6.59% |
| 7 years | 6.69% |
| 10 years | 7.14% |
Rate fluctuation
None, rate stays the same throughout the term
Mortgage payments
Equal until the end of the term
Prepayment
- Option to prepay up to 15% of the initial mortgage amount each year without paying any prepayment charges. If you don't make prepayments, you can't transfer them to the next year.
- Option to increase your payments, up to double the amount indicated in your initial agreement, without any prepayment charges.
If you choose to make additional prepayments to pay down your mortgage faster, you'll have to pay prepayment charges.
Choose this one if you:
- Prefer low risk and don't want your interest rate to change
- Want your budget to stay the same
- Prefer regular payments so you can focus on other projects
- Plan to keep your property for the length of your term
Open fixed-rate mortgage
Interest rate depends on term
| Term | Interest rate |
|---|---|
| 6 months | 9.75% |
| 1 year | 9.50% |
Rate fluctuation
None, rate stays the same throughout the term
Mortgage payments
Equal until the end of the term
Prepayment
Option to pay your mortgage in part or in full at any time, without any prepayment charges. However, certain offers may require you to pay prepayment charges if you prepay your loan.
Choose this one if you:
- Prefer low risk and don't want your interest rate to change
- Want your budget to stay the same
- Expect to come into some money and want to put it toward your mortgage without paying any prepayment charges
- Plan to sell your property or pay off your mortgage in the short term
Variable-rate mortgages
A variable rate fluctuates with our prime rate. This might work for you if you have a good risk tolerance and want to take advantage of possible rate drops to save on interest charges.
Closed reduced variable-rate mortgage
Interest rate depends on term
| Term | Interest rate |
|---|---|
| 5 years | 5.45% |
| 5 years (special rate) | 4.95% |
Rate fluctuation
Your rate is based on the Desjardins prime rate plus or minus a spread guaranteed for the term. Your rate may increase or decrease with each change in our prime rate.
You can convert your reduced variable rate to a fixed rate anytime without prepayment charges and under certain conditions.
Examples
Guaranteed rate spread: -0.70%
Fluctuation 1
Prime rate: 6.75%
Personalized rate: 6.05%
Fluctuation 2
Prime rate: 6.95%
Personalized rate: 6.25%
Mortgage payments
Equal until the end of the term
Prepayment
- Option to repay up to 15% of the initial mortgage amount each year without paying any prepayment charges. If you don't make prepayments, you can't transfer them to the next year.
- Option to increase your payments, up to double the amount indicated in your initial agreement, without any prepayment charges.
If you choose to make additional prepayments to pay down your mortgage faster, you'll have to pay prepayment charges.
Choose this one if you:
- Are comfortable with significant rate fluctuations and have a flexible budget
- Have advanced financial knowledge
- Want to pay as little interest and as much of your principal as possible when rates drop
- Plan to keep your property for at least 5 years
Closed protected variable-rate mortgage
Interest rate depends on term
| Term | Interest rate |
|---|---|
| 5 years | 5.70% |
Maximum rate: 7.54%
Rate fluctuation
Your rate is based on the Desjardins prime rate plus or minus a spread guaranteed for the term. It's protected by a maximum rate that's set when you take out your mortgage. Your rate will fluctuate with our prime rate but will never exceed the maximum.
You can convert your protected variable rate to a fixed rate anytime without prepayment charges and under certain conditions.
Examples:
Guaranteed rate spread: -0.60%
Maximum rate: 6.29%
Fluctuation 1
Prime rate: 5.45%
Personalized rate: 4.85%
Fluctuation 2
Prime rate: 6.45%
Personalized rate: 5.85%
Fluctuation 3
Prime rate: 7.45%
Personalized rate: 6.29% instead of 6.85% since you're protected by the maximum rate
Mortgage payments
Equal until the end of the term
Payments are based on the maximum rate. If your personalized rate is lower than the maximum rate, the difference goes toward your principal. The higher the difference, the faster you'll pay down your principal.
Prepayment
- Option to repay up to 15% of the initial mortgage amount each year without paying any prepayment charges. If you don't make prepayments, you can't transfer them to the next year.
- Option to increase your payments, up to double the amount indicated in your initial agreement, without any prepayment charges.
If you choose to make additional prepayments to pay down your mortgage faster, you'll have to pay prepayment charges.
Choose this one if you:
- Are comfortable with risk but want to maintain control of your budget
- Want to know the maximum rate and the amount of your payments when you sign for your mortgage
- Want to benefit from rate decreases, pay down the principal faster and protect yourself from rate hikes
- Plan to keep your property for at least 5 years
Open regular variable-rate mortgage
Interest rate depends on term
| Term | Interest rate |
|---|---|
| 1 year | 6.70% |
| 2 years | 6.70% |
Rate fluctuation
Your rate is based on the Desjardins prime rate plus or minus a spread guaranteed for the term. Your rate may increase or decrease with each change in the Desjardins prime rate.
Examples:
Guaranteed rate spread: -0.70%
Fluctuation 1
Prime rate: 6.75%
Personalized rate: 6.05%
Fluctuation 2
Prime rate: 6.95%
Personalized rate: 6.25%
Mortgage payments
Equal until the end of the term
Prepayment
Option to pay your mortgage in part or in full at any time, without any prepayment charges. However, certain offers may require you to pay prepayment charges if you prepay your loan.
Choose this one if you:
- Are comfortable with significant rate fluctuations and have a flexible budget
- Have advanced financial knowledge
- Plan to sell your property or pay off your mortgage in the short term
Annually adjustable rate (Yearly Rate Resetter)
The annually adjustable rate goes up or down each year, based on our 1-year closed fixed-rate mortgage, minus a guaranteed spread. This might suit you if you are comfortable with risk and have the financial flexibility to withstand possible annual increases.
Closed annually adjustable rate mortgage
Interest rate depends on term
| Term | Interest rate |
|---|---|
| 5 years | 6.99% |
Rate fluctuation
Your rate is the same as the one on our 1-year closed fixed-rate mortgage, minus a guaranteed spread. The percentage is available for each year of the term. Your rate is adjusted once a year, on the anniversary date of the mortgage.
You can convert your annually adjustable rate to a fixed rate anytime without prepayment charges and under certain conditions.
Example
Guaranteed spread: -0.20%
Year 1
1-year closed fixed mortgage rate: 6.99%
Personalized rate: 6.79%
Year 2
1-year closed fixed mortgage rate: 6.99%
Personalized rate: 6.79%
Year 3
1-year closed fixed mortgage rate: 6.24%
Personalized rate: 6.04%
Year 4
1-year closed fixed mortgage rate: 6.74%
Personalized rate: 6.54%
Year 5
1-year closed fixed mortgage rate: 6.49%
Personalized rate: 6.29%
Mortgage payments
Equal for 12 months and adjusted each year based on your new rate
Prepayment
- Option to repay up to 15% of the initial mortgage amount each year without paying any prepayment charges. If you don't make prepayments, you can't transfer them to the next year.
- Option to increase your payments, up to double the amount indicated in your initial agreement, without any prepayment charges.
If you choose to make additional prepayments to pay down your mortgage faster, you'll have to pay prepayment charges.
Choose this one if you:
- Are comfortable with risk but want your budget to be predictable in the short term
- Want to know the rate and the amount of your payments each year
- Want to benefit from potential rate decreases and limit your exposure to the risks of rate fluctuations
- Plan to keep your property for at least 5 years
Prime rate
5.45%
What's the prime rate?
The prime rate is the rate we use to set the interest rates for many of our loans and lines of credit. Our prime rate is based on the Bank of Canada's key interest rate. When the key rate goes up or down, our prime rate generally follows and influences the rate of our credit products.
Versatile Line of Credit interest rate
The interest rate on the loans tied to your Versatile Line of Credit, like the rate on your mortgage, is set when the loan is made.
The variable interest rate on the HELOC is based on our prime rate plus or minus a spread. This spread is based on criteria like your financial history and your project.
Example
Prime rate: 6.70%
Line of credit rate with spread: 7.70%
Personalized rate after financial history assessment: 7.30%
Frequently asked questions
Why do mortgage rates change?
Mortgage rates rise and fall with the Bank of Canada's key rate, which fluctuates with the economic situation in Canada and abroad. The key rate regulates inflation based on economic growth. A hike in the key rate—and consequently in mortgage rates—slows inflation, stimulates savings and stabilizes the economic cycle.
To learn more, read Rising mortgage rates: 4 questions and their answers.
Should I lock in my mortgage rate?
Lock in your mortgage rate to protect yourself from potential rate hikes while you go through the homebuying process. We'll analyze your financial standing and needs and reserve your rate for a specific period of time. Your rate will be guaranteed as long as your situation and financing stay the same for the agreed-upon period. Otherwise, your rate could be adjusted to reflect the day's interest rate.
Contact us to learn more or lock in your rate.
How can I protect myself from potential rate increases?
Get pre-approved as soon as you start looking for a house. Think about how rising interest rates could affect your budget. Even if we evaluate your capacity to pay your mortgage at a higher rate, your financial situation can change over time. Make sure you have enough breathing room and put money aside in your savings account.
I have a Desjardins mortgage. Where can I check my rate?
You can check your rate and other information about your mortgage on AccèsD.
On a web browser
- Log in to AccèsD.
- Under Cards, loans and credit, select Residential hypothecary loan.
- Select Account to check your mortgage rate and other information.
In the Desjardins mobile services app
- Log in to AccèsD.
- Under Quick access, select Accounts.
- Under Cards, loans and credit, select the account for your residential mortgage.
- Select Information.
- Check the Annual interest rate.
Get pre-approved
By phone
Make an appointment to apply for mortgage pre-approval.
Monday to Friday: 8 AM to 9 PM
Saturday: 9 AM to 6 PM
Elsewhere in Canada:
1-844-626-2476 Canada-wide mortgage services. This link opens your phone app.
We can also call you when it's convenient.
Rates may differ if your amortization is over 25 years. Contact an advisor for more information.
Interest rates are recommended by the Fédération des caisses Desjardins du Québec to all its caisses.